World NR supply up 5% in Jan-Oct, 2017: ANRPC
Association of Natural Rubber Producing Countries (ANRPC) has said that World production of natural rubber (NR), including non-ANRPC countries, was up by five percent during January-October 2017 period. The total NR supply was 10.429 million tonnes during the period compared to 9.932 million tonnes reported in the same period in 2016, said the Natural Rubber Trends and Statistics report of ANRPC in October 2017. The report is based on actual figures up to July 2017 and preliminary estimates for August 2017 to October 2017.
“Cambodia has been registering the fastest production growth among ANRPC member countries in the recent past. Though its growth has slowed down from 31.5% in September 2017 to 29.8% in October. Sri Lanka has registered marginal increment, amounting to 2,000 tonnes of NR on a year-on-year basis. Some tappers in China and Sri Lanka were restrained from tapping activities due to more rains observed in the respective countries over the last two months,” ANRPC report.
The revised world outlook for NR production is expected to increase by 605,000 tonnes, amounting to 12.869 million tonnes during 2017. This revision also inclusive of the downward revision made to India’s production for the year 2017 by 15,000 tonnes.
However, global demand for NR is estimated at 10.730 million tonnes, up 1.1% on a year-on-year basis. Both NR rubber prices in physical markets and futures markets have been volatile despite an upward trend in the price of crude oil during the month of October 2017. The total world output of NR is expected at 12.869 million tonnes, the report said.